PEPE meme coin has been seeing a downward trend, and technical analysts like Ali (@ali_charts) believe it might get worse if the price doesn’t recover soon. Based on his recent chart analysis, PEPE needs to reclaim the $0.0000118 level as support. Without this, there could be a continuation of the decline toward $0.0000097.
After peaking near the $0.0000145 region, PEPE price has been steadily dropping. The 4-hour chart shared by Ali shows a clear breakdown from the $0.0000118 support level. This area had acted as a key base in the past, helping PEPE bounce during previous retracements. Now that it’s been lost, sellers appear to be in control.
The current PEPE price sits around $0.00001126 according to the chart. Price action has attempted to reclaim the lost level but has failed to hold above it. The rejection just below $0.0000117 confirms that bearish momentum remains strong.
If this trend continues, the next important level to watch is the $0.0000108 range, followed by $0.0000102. But the main concern is that price could eventually fall all the way to $0.0000097.
Analyst Says Reclaiming $0.0000118 Is Crucial
Ali stated that PEPE must climb back above $0.0000118 and treat it as support again if it wants to avoid a major drop. This level has acted as a pivot point multiple times throughout July, and its loss is significant.
He highlighted that if PEPE fails to recover this zone, the downward move could accelerate. The chart includes a dotted path suggesting a potential stair-step decline toward lower levels. The key areas where buyers might step in again are $0.0000108, $0.0000102, and possibly even $0.0000097 if selling pressure continues.
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At the current price of $0.00001126, a drop to $0.0000097 would represent a decrease of about 14%. That would be a steep move, especially for short-term traders or new investors who entered at higher levels.
As long as PEPE stays below $0.0000118, the bearish outlook will likely dominate. Traders watching this meme coin will need to keep an eye on how price behaves around that zone in the coming sessions. Any signs of recovery and consolidation above it could shift sentiment back toward the bullish side.
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